Whitney Wolfe founded Bumble in late 2014, having settled with Tinder months earlier.

Dating app Bumble has turned down a $450 million acquisition offer from Match Group, Forbes has learned.

Match Group, the umbrella company which owns Bumble competitors including Match.com, Tinder, and OKCupid, made its approach about two months ago, according to sources familiar with the conversation.

One source suggested the $450 million offer was seen to undervalue Bumble, which has quickly set itself apart in a crowded market with its 'women-first' branding and functionality: if two heterosexual users match, the woman must make the first move.

Neither Bumble nor Match Group would confirm the bid. "We don't comment on rumors or speculation," said a spokesperson for Match Group. A Bumble rep said: "We cannot comment."

An acquisition would have meant founder and CEO Whitney Wolfe working for a company she sued three years ago.

In 2012, aged 22, Wolfe cofounded Tinder, the popular location-based dating app. She was VP of marketing, helping launch the app and turn it into a viral sensation.

She left the company in 2014 and sued Tinder, Match.com and internet conglomerate InterActive Corp (IAC), its parent company, claiming "atrocious sexual harassment and sex discrimination."